[Goldman Sachs Analyst Says 'Crypto Market Structure Bill' Could Be a Key Catalyst] On January 10, a team led by Goldman Sachs analyst James Yaro stated in a report that an improved regulatory environment is a key driver for institutional adoption of cryptocurrencies, particularly for buy-side and sell-side financial institutions. The report mentioned that the U.S. Market Structure Bill is advancing in Congress and must be passed by the first half of 2026; otherwise, the November midterm elections could delay the process. Jim Ferraioli, Director of Crypto Research and Strategy at Charles Schwab, noted that after a sharp sell-off at the end of 2025, institutional adoption may slow in the first half of this year, but the passage of the 'Clarity Act' could accelerate the entry of institutional investors. Youwei Yang, Chief Economist at BIT Mining, predicted that Bitcoin prices could reach $225,000 in 2026, though macroeconomic and geopolitical uncertainties may increase market volatility.